According to new growth theory, growth
A) occurs when real GDP greater than the subsistence level.
B) depends on the population growth rate.
C) is unending.
D) ends when competition disappears.
E) cannot be sustained without government hel
C
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The figure above shows a time-series graph. The horizontal axis measures ________ and the vertical axis measures ________
A) time; x-values B) time; the variable of interest C) the variable of interest; time D) y-values; the variable of interest
Which of the following properly describes the interest-rate effect?
a. A higher price level leads to higher money demand; higher money demand leads to higher interest rates; a higher interest rate increases the quantity of goods and services demanded. b. A higher price level leads to higher money demand; higher money demand leads to lower interest rates; a higher interest rate reduces the quantity of goods and services demanded. c. A lower price level leads to lower money demand; lower money demand leads to lower interest rates; a lower interest rate reduces the quantity of goods and services demanded. d. A lower price level leads to lower money demand; lower money demand leads to lower interest rates; a lower interest rate increases the quantity of goods and services demanded.
If a firm is a price taker, then the demand curve for the firm's product is
A. unit elastic. B. equal to the total revenue curve. C. perfectly inelastic. D. perfectly elastic.
Congress passed a law effective in October 2007 which:
A. placed a 36 percent maximum of payday loans. B. placed a 36 percent maximum of payday loans made to active duty personnel and their families. C. released all restrictions on interest rates charged by payday loan companies. D. restricted payday loan companies from operating in 15 states.